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Federal Budget: Breakdown
A REPORT from ANU academics shows who’s hit hardest by the Federal budget. Normally a similar report is included in the budget papers but this year the research was excluded. ANU Professor Peter Whiteford and PhD candidate Daniel Nethery replicated that research and their breakdown shows budget pain is not at all evenly spread, with working aged people at the lowest income levels the hardest hit. For example,
• A lone parent with a 6-year-old child on a parenting payment will be 10.2% ($56 per week) worse off.
• A lone parent with an 8-year-old child receiving Newstart is 12.2% ($54 per week) worse off.
• However, high-income couples could together bring in up to $360,000 per year and not contribute an extra cent.
Find the report here.